Mrs. Fields Launches Offer to Refinance Debt as Next Stage in Its Global Growth Strategy
Company Added
Company Removed
Apply to Request List

Mrs. Fields Launches Offer to Refinance Debt as Next Stage in Its Global Growth Strategy

SALT LAKE CITY, Nov. 18, 2011 // PRNewswire // -- Mrs. Fields Famous Brands (the "Company") announced today that it has launched a series of transactions (the "Refinancing") designed to reposition its capital structure, improve access to additional funding and accelerate its return to profitability. The successful completion of these transactions will also allow the Company to better capitalize on the positive momentum of the last 18 months by its two iconic brands, Mrs. Fields and TCBY.

"Since joining Mrs. Fields approximately 18 months ago, I continue to be impressed by the consumer enthusiasm and business interest in our brands, domestically and internationally," explains Tim Casey, President and CEO, Mrs. Fields Famous Brands. "I feel like our Mrs. Fields and TCBY brands have unrealized potential, and the successful completion of the refinancing is a critical step in our ongoing mission to take these brands to the next level globally. With the continued support of our lead investors, we are excited about our future prospects."

The Refinancing was launched on October 21, 2011, and, if successful, Mrs. Fields Famous Brands expects to finalize the Refinancing on December 5, 2011. The Refinancing is supported by the largest holders of Mrs. Fields' Senior Secured Notes, Z Capital Partners, LLC and The Carlyle Group, which will become the company's largest shareholders following the Refinancing. Additional terms of the anticipated transaction will be released at closing.

About Mrs. Fields Famous Brands

The Company is a well-established franchisor in the premium snack food industry, featuring Mrs. Fields® and TCBY® as its core brands. Through its franchisees' retail stores, it is one of the largest retailers of freshly baked, on-premises specialty cookies and brownies in the world and the largest retailer of soft-serve frozen yogurt with live active cultures. In addition, it operates a gifts and a branded retail business and has entered into licensing arrangements that attempt to leverage awareness of its core brands among its retail customer base. Its franchise systems operate through a network of more than 950 franchised and licensed locations throughout the United States and in 23 foreign countries. The Company is headquartered in Salt Lake City, Utah.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

This press release contains forward-looking statements conveying management's expectations as to the future based on current plans, estimates and projections. Forward-looking statements involve inherent risks and uncertainties and the Company cautions you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this press release include statements related to the completion of the Refinancing. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake to update any of these statements in light of new information or future events, except, with respect to the Refinancing, as specifically set forth in this press release.

SOURCE Mrs. Fields Famous Brands

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Discovery Point Child Development Centers
• 30 years of brand strength in educational childcare • Only childcare franchise with a flat fee system (vs. fees based on % of your total...
Venture X
The coworking market is entering a new growth phase - join in on it by opening a Venture X coworking franchise. Learn all about the opportunity.
Steak n Shake
Steak 'N Shake Franchising is seeking those with vision, passion and an unwavering desire to achieve the American Dream.
Elements Massage
When simplicity is the essence of your business model, clients and owners benefit. Clients want a predictably wonderful experience with every visit....
BirthdayPak
BirthdayPak is an award-winning gifting platform that brings local businesses together with their best customers.
Share This Page

Subscribe to Our Newsletters

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2019.
All Rights Reserved.